October 20, We received an Ichimoku 4 time frame Buy Email alert on TPM-ASX, TPGTELECOM FPO.
Here is the email alert:
We used a pullback strategy because it had a multi time frame support match from lower and higher time frames which gives a higher probability of success and also to keep our risk low. We are going to use the 120M time frame to setup the pullback trade.
The entry was 1614.47, initial stop of 1593.69, preserve mode of 1685.12.
The risk is 20.78 and the reward is 70.65 to preserve mode. Reaching to preserve mode, it is a 3:1 reward/risk ratio. For pullback trades our minimum would be a 3:1 if it is not then we don’t take the trade.
Here is the chart for reference:
On the day it hit our trigger and it got to our preserve mode, you could take all profit or you can take half and let the other half position run. If you let the other half run make sure you are trailing your stop.
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